Domestic Tractor Sales Declined by 22.67% in March 2024: 63,755 Units Sold

Key Highlights

• March 2024: Domestic tractor sales in India are down by 22.67%.
• 63,755 units sold compared to 82,450 in March 2023.
• Mahindra leads with 24,276 units sold.
• TAFE, Sonalika International, Escorts, and John Deere also report declines.
• Kubota experiences a significant 48.90% drop in sales.

In a reflection of the challenges faced by the agricultural machinery sector, domestic tractor sales in India experienced a significant decline of 22.67% in March 2024. According to data compiled by industry experts, 63,755 tractors were sold during this period, compared to 82,450 units sold in March 2023. While this decline presents a notable setback, industry insiders are hopeful for a renewal in the forthcoming season.

Domestic Tractor Sales Report March 2024 - Brand Wise

Mahindra Tractor

India's leading tractor manufacturer, Mahindra Tractor, reported sales of 24,276 units in March 2024, reflecting a 27.80% decrease from the previous year's sales of 33,622 tractors. Despite this decline, Mahindra remains a dominant player in the market, although experiencing a 2.70% loss in market share.

Also Read: Mahindra Tractor Sales Report March 2024: Domestic Market Sales Drop by 28%, Exports Up by 26%

TAFE

TAFE, another prominent brand, witnessed a 20.45% decrease in sales, with 10,878 units sold in March 2024 compared to 13,674 units in March 2023. TAFE's market share stands at 0.48%, indicating a slight dip.

Sonalika International

Sonalika International recorded sales of 8,682 tractors in March 2024 compared to 10616 units in March 2023, marking an 18.22% decrease from the previous year. However, the brand's market share saw a marginal increase of 0.74%.

Escorts

Escorts, a key player in the industry, reported sales of 8,054 tractors in March 2024 compared to the 9,601 units in March 2023, experiencing a 16.11% decline from the previous year. Nevertheless, the company managed to increase its market share by 0.99%.

Also Read: Escorts Kubota Tractor Sales Drop by 16.7% in March 2024

John Deere

John Deere's sales stood at 5,523 tractors in March 2024 compared to the 5931 units in March 2023, representing a 6.88% decrease from the previous year. Despite this, the brand witnessed a 1.47% increase in market share.

New Holland

New Holland reported a 17.40% decrease in sales, with 3,062 units sold in March 2024 compared to 3,707 units in March 2023. However, the brand's market share experienced a slight growth of 0.31%.

Kubota

Kubota faced a significant decline of 48.90% in sales, with only 1,301 units sold in March 2024 compared to 2,546 units in March 2023. The company's market share also decreased by 1.05%.

Captain Tractor

Captain Tractor faced a significant decline of 3.79% in sales, with only 482 units sold in March 2024 compared to Tractors sold in March 2023. The company's market share also decreased by 0.15%.

VST

The VST faced a significant decline of 17.25% in sales, with only 475 units sold in March 2024 compared to 574 units sold in March 2023. The company’s market share is 0.05%.

Also Read: VST Tractor Sales Report March 2024: Robust Performance with 762 Tractors & 4,061 Power Tillers Sold

Preet

Preet faced a significant decline of 33.72% in sales, with only 462 units sold in March 2024 compared to 697 units sold in March 2023. The company’s market share also showed a decline of 0.12%.

Indo Farm

Indo Farm faced a decline of 33.66% in sales, with only 412 units sold in March 2024 compared to 621 units sold in March 2023. The Company’s market share also declined by 0.11%.

ACE

ACE faced a decline of 67.88% in sales, with only 88 units sold in March 2024 compared to 274 units sold in March 2023. The Company’s market share also declined by 0.19%.

SDF

SDF faced a decline of 30.23% in sales, with 60 units sold in March 2024 compared to 86 units sold in March 2023. The company’s market share also declined by 0.01%.

Also Read: Kenji Ennyu was Appointed as the Chief Officer in the Operation Division of Escorts Kubota

CMV360 Says

The overall domestic tractor sales report for March 2024 shows 63755 tractors sold compared to 82450 tractors sold in March 2023. This led to a 22.67% decrease in domestic tractor sales in March 2024. Stay tuned with CMV360 for more updates related to tractor sales reports.